The market has now shown signs it is nearing it’s bottom as home sales dropped their largest percentage in 24 years according to the National Association of Realtors (NAR).
The median home price in December was $222,000 which was unchanged from a year ago. This is the first flat month since the slide began. The market had gone 11 straight years without a declining median price before this current market slide. The indicators are pointing to a possible bottom approaching. The interest rates are still down (although rising) and it is starting to bring home buyers out again. Now is a good time to start positioning your credit profile to take advantage of upcoming opportunities. Those who wait till the market turns will be on the sidelines watching others reap the rewards.
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